{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{8}{c}}
\toprule
                    &\multicolumn{8}{c}{Dependent variable: $X_{ni}/X_n$}                                                                                                                         \\\cmidrule(lr){2-9}
                    &\multicolumn{1}{c}{(1)}         &\multicolumn{1}{c}{(2)}         &\multicolumn{1}{c}{(3)}         &\multicolumn{1}{c}{(4)}         &\multicolumn{1}{c}{(5)}         &\multicolumn{1}{c}{(6)}         &\multicolumn{1}{c}{(7)}         &\multicolumn{1}{c}{(8)}         \\
\midrule
$\delta^c \times z_{ni}^{(1)}$&      -0.042\sym{***}&                     &      -0.047\sym{**} &                     &       -0.11\sym{***}&                     &      -0.019         &                     \\
                    &    (0.0091)         &                     &     (0.014)         &                     &     (0.023)         &                     &     (0.010)         &                     \\
\addlinespace
$\delta^c \times z_{ni}^{(2)}$&                     &      -0.037\sym{***}&                     &      -0.039\sym{***}&                     &       -0.10\sym{***}&                     &      -0.019\sym{*}  \\
                    &                     &    (0.0072)         &                     &    (0.0094)         &                     &     (0.020)         &                     &    (0.0082)         \\
\addlinespace
$FINDEV^c \times z_{ni}^{(1)}$&                     &                     &                     &                     &                     &                     &       0.041\sym{***}&                     \\
                    &                     &                     &                     &                     &                     &                     &     (0.012)         &                     \\
\addlinespace
$FINDEV^c \times z_{ni}^{(2)}$&                     &                     &                     &                     &                     &                     &                     &       0.032\sym{***}\\
                    &                     &                     &                     &                     &                     &                     &                     &    (0.0094)         \\
\addlinespace
$\log GDPC^c \times z_{ni}^{(1)}$&                     &                     &                     &                     &                     &                     &       0.093         &                     \\
                    &                     &                     &                     &                     &                     &                     &     (0.076)         &                     \\
\addlinespace
$\log GDPC^c \times z_{ni}^{(2)}$&                     &                     &                     &                     &                     &                     &                     &       0.074         \\
                    &                     &                     &                     &                     &                     &                     &                     &     (0.054)         \\
\addlinespace
$\delta^c \times \sqrt{(\# \text{firms in } n)(\# \text{firms in } i)} $&      -0.013         &                     &    -0.00041         &                     &      -0.049\sym{**} &                     &      -0.013         &                     \\
                    &    (0.0087)         &                     &     (0.014)         &                     &     (0.016)         &                     &    (0.0087)         &                     \\
\addlinespace
$\delta^c \times (\# \text{firm relationships between i and n}) $&                     &      -0.019\sym{*}  &                     &      -0.011         &                     &      -0.057\sym{***}&                     &      -0.019\sym{*}  \\
                    &                     &    (0.0075)         &                     &     (0.011)         &                     &     (0.015)         &                     &    (0.0075)         \\
\midrule
Upstream $\times$ Downstream FEs&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
Upstream $\times$ Country FEs&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
Downstream $\times$ Country FEs&         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         &         Yes         \\
\midrule Sample     &        Full         &        Full         &      M only         &      M only         &      S only         &      S only         &        Full         &        Full         \\
\midrule$R^2$       &        0.54         &        0.54         &        0.64         &        0.64         &        0.47         &        0.47         &        0.54         &        0.54         \\
Observations        &      133525         &      133525         &       48069         &       48069         &       21364         &       21364         &      132300         &      132300         \\
\bottomrule
\end{tabular}
}
